The Industry Growth Program

Industry Growth Program

Are you an SME looking to commercialise and grow in revenue?

Is your current project aligned with any of these National Reconstruction Fund (NRF) Priority areas?

• Value-add in resources
• Value-add in agriculture, forestry, and fisheries
• Transport
• Medical science
• Renewables and low emissions technologies
• Defense capability
• Enabling capabilities

If so, you may be eligible to access up to $5 million in funding from AusIndustry through the Industry Growth Program. This program was officially launched on November 27th, 2023 and consists of two parts. It will connect you with an Industry Growth Program adviser who will provide invaluable advice on how you can commercialise and grow your SME using available grants and funding.

The advice provided by the adviser is tailored specifically to your business and industry and may include:

• Commercialisation and growth strategies, including business model validation.
• Funding avenues, potential investors, and capital raising opportunities.
• Building networks and establishing collaborative partnerships.
• Commercialization of intellectual property.
• Market testing.
• Development of compelling value propositions.

What do you get?

Once you have received this advice, you may also be able to apply for grants recommended by your Industry Growth Program adviser:

1. Grants ranging from $50,000 to $250,000 to support early-stage commercialisation projects.
2. Grants ranging from $100,000 to $5 million for commercialisation and growth projects.

Are you eligible?

To be eligible for this program, you must have an ABN, be non-income-tax exempt, be registered for GST, and satisfy the following requirements:

• Have a combined annual turnover of less than 20m for each of the past three financial years.
• Have an innovative product, process or service in one of the aforementioned NRF priority areas.

How do I apply for an adviser?

1. Read the official guide to the program here!
2. Set up an account on their online access portal
3. Provide all the necessary information
4. Address the eligiblity criteria for the adviser service.

Should your application be complete and judged within the criteria, you will be contacted by your Industry Growth Program adviser.

For a full description of the process and requirements, please see the program information guide available here from AusIndustry, or give us a call here at Ryan, we are happy to walk you through the process.

Need Help?

Ryan can help advise you on your application and assist you to access a wide range of other grants and services, including, among others, the R&D Tax Incentive, Export Market Development Grant (EMDG), and the MVP Ventures fund.

Ryan provides specialised comprehensive technical and financial consulting assistance to businesses aiming to claim the R&D Tax Incentive. Our experts work with integrity, understanding the intricate details of the application process, considering all facets of eligibility and relevant activities.

Services
Ryan can assist with services such as:

• Scope your potential to claim various grant programs
• Assist with the preparation and lodgement of grant applications
• Review or provide a health check on your internally prepared grant applications
• Establish record-keeping practices as required under various grant programs
• Keeping industry informed on all new Government policy and grant initiatives

Don’t hesitate to give us a call or schedule a free assessment.